Chapter 13 BankruptcyJackson, Mississippi, Chapter 13 Bankruptcy AttorneyChapter 13 bankruptcy is a financial repayment plan established by you and your attorney and proposed to the court. It is an option that people choose when they cannot qualify for a Chapter 7 bankruptcy after the new laws that were enacted in October of 2005. At the Burghard Law Firm, PLLC, serving clients in Hattiesburg and Brookhaven, Mississippi, we assist clients with resolving their debt problems. Bankruptcy can be embarrassing. You want to keep that information away from family, friends, and neighbors. That embarrassment discourages many from filing for bankruptcy because of the fear of losing their most prized assets. Being forced to move out or drive a different car creates questions that you do not wish to answer. A Chapter 13 bankruptcy, however, can protect your house, car, and other possessions that you do not want to lose. Your financial repayment plan will be established based on your ability to repay your debt. The plans are usually set for a three- to five-year period, with the payment going to a federal trustee. From there, the trustee distributes that money to your creditors. When the time is up, you are free of those obligations. At the Burghard Law Firm, PLLC, we have had some clients almost fall into the trap set by companies who claim that they can negotiate with creditors to get interest reduced or erased. Those companies do not tell you the whole story. It is best to secure the services of a qualified Chapter 13 bankruptcy attorney so you do not have to go through a similar situation twice. For more information or to schedule an appointment with an experienced lawyer regarding a Chapter 13 bankruptcy, please contact us. |
